TORONTO/NEW YORK, Sept 15 (Reuters) - Activist investor
Engaged Capital reported a 7.5 percent stake in SunOpta Inc
on Thursday and said it had signed a confidentiality
agreement with the Canadian organic food company to provide
strategic advice.

The move comes as SunOpta faces increasing activist
shareholder pressure, with Engaged becoming the third hedge fund
to target the company this year. Shares of SunOpta were up 5.5
percent at C$9.07 in midday trading.

U.S. hedge fund Tourbillon Capital pressured SunOpta to
explore a sale earlier this year. In July, Reuters reported that
Canadian hedge fund West Face Capital had a stake and could push
for board and management changes should a sale fail to
materialize.

SunOpta spokesman Dan Gagnier said Engaged had been a
shareholder in the company off and on over the last few years.
The company has entered into an agreement to seek the hedge
fund's advice during a strategic review process, he added.

"We look forward to a constructive dialogue with Engaged, as
we do all shareholders, as we work to complete our process,"
Gagnier said.

Engaged is looking at a number of possible moves for
SunOpta, a person familiar with the situation said. They include
partnering with a strategic player, bringing in new talent,
improving operations and making changes to the board and
management.

Selling the company is one of the options, but the fund
wants to address the operational issues before considering that,
the source said.

The source said Engaged became involved after what it
considers poorly timed and integrated acquisitions, quality
issues and recalls.

The hedge fund has activist experience in specialty foods as
it acquired a stake in Boulder Brands, which was eventually sold
to Pinnacle Foods Inc.
(Reporting by Michael Flaherty and John Tilak; Editing by
Jeffrey Benkoe and Lisa Von Ahn)